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Almonty Reports Results of Election of Directors

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Almonty Industries Inc. (TSX:AII, OTCQX:ALMTF) ("Almonty"
or the "Company") today announced that at the annual and special
meeting of shareholders held on March 28, 2019 (the "Meeting"),
each of the five nominees listed in the management information circular
dated February 21, 2019 were elected as directors of the Company. A
total of 95,328,360 common shares or 52.54% of Almonty's issued and
outstanding common shares (the "Shares") were voted in connection
with the Meeting. Shareholders voted by either a show of hands or ballot
in favour of each item of business. The detailed results of the vote for
each of the five elected directors are set out below.

Nominee   Votes For   Votes Withheld  

Percentage of
Votes For

 

Percentage of
Votes Withheld

Lewis Black   73,983,962   169,398   99.77%   0.23%
Michael Costa   74,150,835   2,525   100%   0.00%
Daniel D'Amato   73,969,812   183,548   99.75%   0.25%
Thomas Gutschlag   73,373,962   779,398   98.95%   1.05%
Mark Trachuk   74,150,835   2,525   100%   0.00%

74,153,360 Shares (40.87% of outstanding Shares) were voted by proxy.
21,175,000 Shares (11.67% of outstanding Shares) were voted in person at
the meeting.

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc.
is the mining, processing and shipping of tungsten concentrate from its
Los Santos Mine in western Spain and its Panasqueira mine in Portugal as
well as the development of its Sangdong tungsten mine in Gangwon
Province, South Korea and the development of the Valtreixal tin/tungsten
project in north western Spain. The Los Santos Mine was acquired by
Almonty in September 2011 and is located approximately 50 kilometres
from Salamanca in western Spain and produces tungsten concentrate. The
Panasqueira mine, which has been in production since 1896, is located
approximately 260 kilometres northeast of Lisbon, Portugal, was acquired
in January 2016 and produces tungsten concentrate. The Sangdong mine,
which was historically one of the largest tungsten mines in the world
and one of the few long-life, high-grade tungsten deposits outside of
China, was acquired in September 2015 through the acquisition of a 100%
interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal
tin-tungsten project in north-western Spain. Further information about
Almonty's activities may be found at www.almonty.com
and under Almonty's profile at www.sedar.com.

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